Kenya Inflation August 2019

Kenya: Inflation falls to five-month low in August

August 30, 2019

Consumer prices fell 0.90% over the previous month in August, following a 0.36% month-on-month drop in July. Notably lower prices for food and alcoholic beverages drove the downturn, followed by housing, water, electricity, gas and other fuels.

Inflation slid to 5.0% in August from 6.3% in July, hitting the mid-point of the Central Bank’s 2.5%–7.5% target range. Lastly, annual average inflation inched up to 5.4% in August from 5.3% in July.

FocusEconomics Consensus Forecast panelists expect inflation to average 5.7% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel also sees inflation averaging 5.7%.

Author:Nihad Ahmed, Economist

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The economy gained traction in the final quarter of 2019, with growth accelerating to 5.5% year-on-year from the revised 5.2% in Q3 (previously reported: +5.1% year-on-year), according to Kenya’s Statistical Institute (KNBS).

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